| The US share market finished choppy session narrowly mixed on Thursday, 28 March 2024, as traders seemed reluctant to make significant moves ahead of the release of personal income and spending data and Easter holiday on Friday. Investors are awaiting the Friday?s release of the Fed?s favorite inflation gauge, the core personal consumption expenditures (PCE) price index, when the market is shut for Good Friday, and is largely expected to factor into the outlook for U.S. interest rates. Along with the PCE data, addresses from Fed Chair Jerome Powell and FOMC member Mary Daly are also due on Friday. At closing bell, the Dow Jones Industrial Average index advanced 47.29 points, or 0.12%, to 39,807.37. The S&P500 index climbed up 5.86 points, or 0.11%, to 5,254.35. The tech-heavy Nasdaq Composite index declined by 20.06 points, or 0.12%, to 16,379.46. For the holiday-shortened week, the Dow advanced by 0.8% and the S&P 500 rose by 0.4%, but the Nasdaq fell by 0.3%. Total 8 of 11 major S&P 500 sectors inclined, with energy sector being top performer, rising 1.1%, while communication services was bottom performer, down 0.31%. ECONOMIC NEWS: The Labor Department released a report showing initial jobless claims dipped to 210,000, a decrease of 2,000 from the previous week's revised level of 212,000. A separate report released by the Commerce Department showed the U.S. real gross domestic product surged by 3.4% in the fourth quarter compared to the previously reported 3.2% jump. The National Association of Realtors also released a report showing pending home sales index shot up by 1.6% to 75.6 in February after plunging by 4.7% to a revised reading of 74.4 in January. Powered by Capital Market - Live News |